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One of my favorite investing legends is Oaktree Management’s Howard Marks. His investing wisdom and in-depth knowledge of investor psychology and market dynamics are unparalleled. Given the  “speculative mania” we continue to watch in the market, I thought a review of some of his previous thoughts is appropriate. Over the weekend, I re-read some previous research and ran across an interview between Goldman Sach’s Hugo-Scott Gall and Howard Marks. The talk ranged from investment decisions to behavioral dynamics. While the interview occurred in 2013, it is just as relevant as if he sai...

  There was yet another all-time high for Bitcoin yesterday, as it came within touching distance of $50,000. Will we see $50,000 this week?  If the good news continues to flow in, it’s more than likely we will. Yesterday, we had Mayor of Miami, Francis Suarez share the progress they’re making towards paying employees in Bitcoin, as well as investing in it as a city. Miami has played a central role in cryptocurrency’s history, with the Ethereum co-founders meeting for the first time in a Miami beach house where they were staying for the North American Bitcoin Conference. Suarez is also...

MasterCard plans to follow PayPal with crypto receipts for merchants, Cardano launching Native Tokens   The markets slowed yesterday, with Bitcoin and Ethereum both seeing small retraces after hitting new all-time highs earlier in the week. The rumour mill continues to grind though, with new reports quoting a ‘source familiar matter’ that MasterCard is planning to give merchants the option to receive payments in cryptocurrency later this year. The question is, will it stop people HODLing and get them to start spending their crypto? It was a similar story across the board...

  The markets continue to bathe in the glow of Tesla’s warm embrace, with Bitcoin hitting yet another (yawn) new all-time yesterday of over $48,000. It’s still not quite $50,000, but it will do for now.  It’s green across the board today, with new all-time highs for Aave and Polkadot yesterday. Cardano also continues its upward streak and is closing in on $1, although has some way to go before it hits its all-time highs from 2018. The fourth-largest cryptocurrency by market cap has now seen a 275% upswing in less than 35 days. Could it become the ‘Ethereum killer’ many have calle...

“[The expected rally] was indeed the case as the markets successfully tested and held the 50-dma (red dashed line.) Despite the fact money flows remained weak, as shown in the chart below, the market did manage to regain previous highs.” “While the money flow ‘buy signal’ will likely trigger next week, the market is already trading 2-standard deviations above the 40-dma.  Such suggests that the upside may be more limited over the next couple of weeks.” The more critical point in the newsletter concerning the market was the breakdown in correlations between the market and its unde...